A firm currently offers terms of sale of 4/35, net 60. Calculate the effective annual rate. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate % a-1. Calculate the effective annual rate if the terms are changed to 5/35, net 60. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate 1% a-2. What effect does an increase in the discount rate have on the implicit interest rate charged to customers that pass up the discount? Increase Decrease b-1. Calculate the effective annual rate if the terms are changed to 4/45, net 60. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate % b-2. What effect does a decrease in the extra days of credit have on the implicit interest rate charged to customers that pass up the discount? O Increase Decrease C-1. Calculate the effective annual rate if the terms are changed to 4/35, net 50. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate 1% C-2. Is there any difference between the implicit interest rate for terms of 4/45, net 60 and 4/35, net 50? Yes O No A firm currently offers terms of sale of 4/35, net 60. Calculate the effective annual rate. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate % a-1. Calculate the effective annual rate if the terms are changed to 5/35, net 60. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate 1% a-2. What effect does an increase in the discount rate have on the implicit interest rate charged to customers that pass up the discount? Increase Decrease b-1. Calculate the effective annual rate if the terms are changed to 4/45, net 60. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate % b-2. What effect does a decrease in the extra days of credit have on the implicit interest rate charged to customers that pass up the discount? O Increase Decrease C-1. Calculate the effective annual rate if the terms are changed to 4/35, net 50. (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate 1% C-2. Is there any difference between the implicit interest rate for terms of 4/45, net 60 and 4/35, net 50? Yes O No